Amplius Wealth Advisors LLC Invests $250,000 in The Progressive Co. (NYSE:PGR)

Amplius Wealth Advisors LLC purchased a new stake in shares of The Progressive Co. (NYSE:PGR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 882 shares of the insurance provider's stock, valued at approximately $250,000.

Several other large investors have also made changes to their positions in PGR. Brighton Jones LLC grew its stake in Progressive by 15.6% during the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider's stock valued at $813,000 after acquiring an additional 457 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Progressive during the fourth quarter valued at about $269,000. Chicago Partners Investment Group LLC grew its position in shares of Progressive by 12.5% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,471 shares of the insurance provider's stock valued at $358,000 after purchasing an additional 163 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Progressive by 7.1% in the fourth quarter. DAVENPORT & Co LLC now owns 4,935 shares of the insurance provider's stock worth $1,161,000 after purchasing an additional 328 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its position in shares of Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider's stock worth $29,000 after buying an additional 120 shares in the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PGR has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on Progressive from $324.00 to $328.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. UBS Group raised their target price on shares of Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Morgan Stanley set a $330.00 price target on shares of Progressive and gave the company an "overweight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. increased their price objective on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Finally, Barclays boosted their target price on shares of Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $288.59.

Progressive Trading Down 0.8%

NYSE PGR traded down $2.37 during trading on Thursday, hitting $279.80. The stock had a trading volume of 2,520,686 shares, compared to its average volume of 2,649,193. The stock has a market capitalization of $164.03 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 1.70 and a beta of 0.40. The stock has a 50 day simple moving average of $276.36 and a 200 day simple moving average of $264.11. The Progressive Co. has a one year low of $201.34 and a one year high of $292.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. The firm had revenue of $22.21 billion during the quarter, compared to analyst estimates of $21.87 billion. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Sell-side analysts predict that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Thursday, April 3rd. Progressive's dividend payout ratio is currently 2.70%.

Insider Transactions at Progressive

In related news, insider Steven Broz sold 1,267 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $277.81, for a total value of $351,985.27. Following the transaction, the insider now owns 28,888 shares of the company's stock, valued at $8,025,375.28. This represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $275.37, for a total value of $2,753,700.00. Following the transaction, the chief financial officer now owns 238,024 shares in the company, valued at $65,544,668.88. The trade was a 4.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,755 shares of company stock worth $10,367,074. Insiders own 0.34% of the company's stock.

About Progressive

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.